U.S. sovereign bond prices were slightly lower Wednesday as investors digested a second day of testimony by Federal Reserve Chair Janet Yellen and a seven-year notes sale.
The Treasury Department auctioned $28 billion in seven-year notes at a high yield of 1.49 percent on Wednesday.
The bid-to-cover ratio, an indicator of demand, was 2.56, above a recent average of 2.50.
Indirect bidders, which include major central banks, were awarded 65.6 percent, above an average of 59 percent. Direct bidders, which includes domestic money managers, bought 9.1 percent, below an average of 14 percent.
The yield on the 10-year Treasury note, which moves inversely to its price, traded at 1.687 percent, while the yield on the 30-year Treasury bond was lower at 2.4985 percent. Two-year note yields were about flat at 0.75 percent.